United Technologies Corp. (UTX) reported first-quarter net income attributable to common shareowners of $330 million, lower than $1.01 billion last year.

Net income attributable to common shareowners from contnuing operations rose to $1.18 billion from last year's $967 million. Earnings per share from continuing operations were $1.31, up from $1.06 in the same quarter a year ago.

Earnings per share from discontinued operations were a loss of $0.94 in the quarter, reflecting the previously disclosed goodwill impairment charges for Rocketdyne and Clipper, as well as tax adjustments associated with the planned divestiture of the Hamilton Sundstrand Industrial businesses.

Results for the current quarter include $0.30 per share of net favorable one-time items, partially offset by $0.09 of restructuring costs. Earnings per share in the year ago quarter included $0.02 of restructuring costs. Net foreign currency translation and hedges at Pratt & Whitney Canada had an adverse impact of $0.02 in the quarter.

Excluding items, earnings per share were up 2 percent year over year.

On average, 21 analysts polled by Thomson Reuters expected the company to report earnings of $1.20 per share. Analysts' estimates typically exclude special items.

Including Goodrich, the company still expects earnings from continuing operations in 2012 of $5.30 to $5.50 per share, up 0 to 4 percent. On the same basis, the company continues to expect sales of $61 billion to $62 billion. Analysts expect the company to earn $5.53 per share, on revenues of $62.22 billion.

British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast.

Electronic Arts Inc. (EA) on Thursday reported an increase in profit for the first quarter, reflecting continued strong digital revenues, with both earnings and revenues topping Wall Street estimates. However, shares of the company fell over 4 percent, after having detailed a weak outlook.
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